More From T. Boone Pickens

"Today the president articulated the national security and economic threats associated with our escalating dependence on foreign oil. With the increasing price of gasoline, natural gas is an important domestic fuel at our disposal that can replace foreign oil to power heavy-duty fleet vehicles. Converting heavy-duty trucks and high-fuel use commercial fleet vehicles to natural gas can reduce our OPEC dependence now while we wait for technology to power the vehicles of tomorrow. It is clear President Obama is committed to weaning America off Middle Eastern oil, securing our own energy future and recognizes the role natural gas can play as a domestic transportation fuel. Recent unrest in the Middle East underscores the need to take action now and I'm encouraged by the president's promise to secure America's energy future and national security by reducing our dependence on OPEC oil."

A bill with part of the Pickens Plan is expected to be introduced into the U.S. House of Representatives next week with bipartisan support.